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Mortgage CRM Software
Pulse Mortgage CRM
Pulse automates tasks specific to mortgage industry professionals. This Web-based CRM system sets up fast with preconfigured tasks and email templates. Or, users can customize the program with their own forms and fields.
Salesforce.com
Mortgage companies will find a wealth of industry-specific features with Salesforce.com, such as quantifying the value of purchased sales leads. The solution also integrates with many loan origination systems and related programs.
GoldMine CRM
GoldMine CRM helps meet the needs of mortgage professionals with contact management, sales automation and scheduling. By automating these tasks, mortgage companies can better track leads and close more sales.
inContact Hosted Call Center Software
Used in the mortgage industry by customer service agents, inContact Hosted Call Center Software is a popular choice among businesses that need a comprehensive call center system. Notable features include IVR and ACD.
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Marketo Lead Management
Marketo is a leading demand generation system for B2B companies. This web-based system provides loan officers with the marketing and CRM tools they need to manage and grow customer relationships.
NetSuite CRM+
NetSuite CRM+ is a leading solution for small and midmarket mortgage organizations. The web-based system offers sales automation, marketing automation and customer service features to help automate your unique business processes.
Five9 Virtual Call Center
Five9 is a hosted call center system that can be used across call centers of all sizes. It's a great fit for companies in the retail, telecommunications, banking and healthcare industries.
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What is Mortgage CRM Software?
Mortgage customer relationship management (CRM) software is designed to help mortgage professionals run their front-end operations. The subprime mortgage crisis is anything but a distant memory. Delinquencies and foreclosures are still common occurrences, and mortgage lenders have realized the importance of focusing on the customer acquisition and management lifecycle as a means of recovery. In particular, lenders and loan officers must overcome the hurdles of keeping detailed client notes and maintaining timely client follow-up. They require proper contact management coupled with loan pipeline management in order to stay in control of their business. On top of client retention, mortgage lenders also need to grow and expand their operation in a highly competitive market.
Mortgage-specific Functionality
Mortgage CRM software often includes applications for contact management, so that lenders can organize client data into one, easily accessible location. However, if the tool is specific to the mortgage industry, it will also include additional key features:
| Loan Pipeline Management | Mortgage CRM software should tie in with existing loan-originating software (LOS) systems to improve loan pipeline management. This integration allows lenders to view loan reports on-demand, track loans as they go through the LOS, and synchronize important data such as loan status values and 1003 application data. With a few clicks, the lender can access contact information, loan information, email and phone call history. |
| Referral Partner Marketing | In a highly competitive market, mortgage companies can benefit greatly from a program that facilitates drip marketing campaigns and campaign tracking to send targeted messages to clients and referral partners. Tracking these campaigns helps lenders know how to cultivate and reward client and partner loyalty. |
| Mortgage Event Alerts | There should also be tools for notes and alerts that remind the lender of important upcoming events, such as which clients want to refinance several weeks or months in the future. Some systems also have a news update application that provides the most up-to-date information, such as increased annual premiums or changes in upfront mortgage insurance rates (UFMIP). |
| Regulation Compliance | With the current instability in the market, it is even more important for lenders to stay abreast of new regulations and compliance issues in their industry. Integrated compliance modules are available in some products to help ensure that business operations are in line with regulations enforced by organizations such as the Federal Housing Administration (FHA). |
Evaluating Mortgage CRM Software
Mortgage accounting software can automate many of the day-to-day marketing and loan processing, facilitating marketing efforts and increasing accuracy and customer service. When selecting mortgage CRM software, ask the following questions:
- Does the software integrate seamlessly with your existing LOS system for end-to-end loan visibility?
- Does the software integrate with other existing legacy systems such as ERP or accounting?
- Does your organization require a web-based customer portal so customers can access loan applications and information online?
- Does your organization require capabilities for multi-channel marketing (i.e. email, phone, direct, etc.)?
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